Forest Laboraties Inc. settled a patent suit Thursday over a generic version of its Lexapro antidepressant, but the company must still defend the patent against another competitor.
Forest, which has major operations in Commack, and its Danish licensing partner H. Lundbeck A/S settled with Alphapharm, a subsidiary of Germany's Merck KGaA. As part of a settlement agreement, Alphapharm acknowledged that it infringed Lexapro's patent, while Forest gave Alphapharm exclusive licensing rights to Lexapro's generic version.
Still, Forest is gearing up to defend the same patent against Ivax Pharmaceuticals Inc., a generic drug maker. That suit is set for a December court date, and yesterday Ivax issued a statement refuting rumors that it had entered settlement talks with Forest and Lundbeck.
Forest's stock (NYSE: FRX) dipped yesterday, but rose today on news of the settlement. By Thursday afternoon, shares traded at $37.77, a 17 cent increase from Wednesday's close.
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